Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 5,404 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 5,404 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $10.70, for a total transaction of $57,822.80. Following the sale, the director now directly owns 5,156,835 shares of the company’s stock, valued at approximately $55,178,134.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Hagerty Trading Down 3.2 %

Shares of Hagerty stock opened at $10.62 on Friday. The firm has a market capitalization of $3.58 billion, a PE ratio of 177.00 and a beta of 0.81. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average is $11.18 and its 200 day moving average is $10.00. Hagerty, Inc. has a 1 year low of $7.52 and a 1 year high of $12.35.

Hagerty (NYSE:HGTY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. Hagerty had a net margin of 5.37% and a return on equity of 15.68%. The company had revenue of $313.23 million during the quarter, compared to the consensus estimate of $312.64 million. Equities research analysts forecast that Hagerty, Inc. will post 0.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on HGTY. JPMorgan Chase & Co. upped their target price on Hagerty from $9.50 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Truist Financial upped their price objective on Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th.

Hedge Funds Weigh In On Hagerty

Large investors have recently bought and sold shares of the company. Blue Trust Inc. bought a new stake in shares of Hagerty during the second quarter worth about $39,000. Algert Global LLC acquired a new stake in Hagerty during the 2nd quarter worth approximately $108,000. Dimensional Fund Advisors LP acquired a new stake in Hagerty during the 2nd quarter worth approximately $139,000. Meixler Investment Management Ltd. grew its holdings in Hagerty by 21.2% during the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after acquiring an additional 4,250 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. increased its position in Hagerty by 34.7% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 103,300 shares of the company’s stock valued at $806,000 after acquiring an additional 26,600 shares during the period. 20.51% of the stock is currently owned by institutional investors.

About Hagerty

Hagerty, Inc provides insurance agency services worldwide. It offers motor vehicle and boat insurance products; and reinsurance products. The company provides Hagerty Media, which publishes contents through the Hagerty Drivers Club Magazine (HDC), video content, and social media channels; HDC that offers subscription based products and services, including HDC Magazine, automotive enthusiast events, proprietary vehicle valuation tools, emergency roadside services, and special vehicle-related discounts.